Extensive rate reductions at LiveMore

13 August 2024

LiveMore, the mortgage lender for people aged 50 to 90 plus, has made extensive rate reductions across its range of products by up to 1.06%. The greatest rate cuts apply to longer term fixes, while July’s ‘limited edition’ rate cut to two-year fixes is now permanent.

The rate reductions apply across LiveMore 1 – 4 products for Standard Interest-Only, Standard Capital & Interest, and Retirement Interest-Only (RIO) mortgages.

LiveMore 1 standard five-plus-five-year fixed-rate mortgage is down by 1.06% from 6.48% to 5.42%. This means that the five-plus-five-year fixed-rate mortgage is now only 0.09% higher than the five-year fixed-rate mortgage.

The lender has also reduced LiveMore 1 RIO five-plus-five-year fixed-rate mortgage by 1.02% and LiveMore 1 five-year fixed rate mortgage for both standard and RIO by 0.31%.

LiveMore 1 10-year fixed rate on RIO and standard and fixed-for-term are now down by up to 0.71%.

The cuts do not apply to LiveMore’s Lifetime Mortgage (equity release) products.

Les Pick, LiveMore’s director of intermediary sales, said: “We want to offer our customers flexibility as well as stability, and these rate reductions support this strategy. For example, the five-plus-five-year fixed-rate mortgage offers 10 years of certainty, with no early repayment charges (ERCs) after five years.”